Motorola to spin off handset unit in January 2011

Motorola to spin off handset unit in January 2011

Motorola will spin off its mobile unit in January 2011, according to reports.

The mobile phones and set top boxes part of the business will be called Motorola Mobility, while the wireless technology business will be called Motorola Solutions.

Motorola Mobility, which is expected to sell at about $13bn, will be headed up Sanjay Jha.

Motorola Solutions, which will be headed by Gregory Brown, has a long-term annualised growth rate of 5% to 8%, and this group will consider paying a dividend, according to Reuters.

In October, Motorola reported a Q3 profit for the first time in three years.

Sales increased from $5.4bn to $5.8 bn (£3.6 bn) and its net income reached $108m (£68m).

The Motorola Defy is currently being heavily marketed in the UK.

Written by Mobile Today
Mobile Today

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